Exam 18: Agency Law

A general power of attorney limits the agent to those acts enumerated by the agreement.

Dual agency occurs when an agent acts for two or more different principals in the same transaction.

In an agency by ratification, the agent is relieved of any liability for misrepresentation.

________ is a situation in which an agent does something during the course of his or her employment to further his or her own interests rather than the principal's.

A(n)________ is a relationship formed when an employer hires an employee and gives that employee authority to act and enter into contracts on his or her behalf.

The principal works on behalf of an agent.

Jamie is a lawyer who runs her own law firm specializing in real estate law. Raymond, a real estate developer, hires Jamie to represent him in the purchase of land. Jamie is the ________.

Describe the operation of a fully disclosed agency.

If a principal and an agent enter into an express agency contract, the principal cannot employ any agent other than the exclusive agent.

Which of the following would lead to the termination of an agency by operation of law?

Agency law is a mixture of tort and contract laws.

The work-related test puts liability on the employee if the intentional tort is committed within work-related time and space.

Gem's principal asked her to pick up his dry-cleaning on her way to work. After she had picked up the dry-cleaning and while driving to work, Gem knocked over an old man crossing the street as she did not apply the brakes in time. Under the theory of ________, Gem's principal is liable to the injured man.

Marlon intends to sell a piece of real estate he owns and contracts Nita, a real estate broker, to make the sale. In the contract, Marlon authorizes Nita to make the sale at or above a minimum price he wants and the date by which he wants the sale to be completed. The contract also stipulates that Marlon should not hire another broker to sell that piece of land till the expiry of the contract period. Nita finds a suitable buyer, makes the sale in time, and is paid by Marlon for her services. -What kind of contract existed between Marlon and Nita?

An agent by ratification happens when a principal ratifies an authorized act.

Which of the following is true of an undisclosed agency?

Parties with whom the agent has dealt with directly must be given direct notices of termination of agency.

Which of the following is true of tort liability for principals and agents?

A durable power of attorney remains effective even if the principal is incapacitated.

________ occurs where a principal is liable for an agent's tortious conduct because of the employment contract between the principal and agent, not because the principal was personally at fault.